Medtronic Q3 Revenue Rises 8.7% to $9.02B; First U.S. Hugo RAS Surgery Performed
Medtronic reported fiscal Q3 revenue of $9.02 billion, up 8.7% as reported and 6.0% organic, with non-GAAP EPS of $1.36 beating analyst forecasts of $8.9 billion and $1.33 per share. The company completed the first U.S. commercial case using its FDA-cleared Hugo robotic-assisted surgery system at Cleveland Clinic and plans to expand indications into gynecologic and general surgery.
1. Q3 Fiscal 2026 Results Exceed Estimates
In Q3 ending January 23, Medtronic generated $9.02 billion in revenue, an 8.7% increase reported (6.0% organic), with non-GAAP EPS of $1.36 topping guidance. Cardiovascular revenue rose 11%, cardiac ablation solutions grew 80% in the U.S. driven by the pulsed field ablation portfolio, diabetes revenue climbed 8.3%, and the company secured CE Mark for Sphere-360 and FDA clearance for its Hugo RAS and Stealth AXiS systems while affirming full-year EPS guidance of $5.62–$5.66.
2. First U.S. Commercial Hugo Robotic Surgery
The inaugural U.S. case using the FDA-cleared Hugo robotic-assisted surgery system was completed at Cleveland Clinic with a robotic-assisted prostatectomy and next-day discharge. The system’s modular, mobile footprint aims to address operating room constraints and enhance minimally invasive access; Medtronic plans to expand indications into gynecologic and general surgery following initial installations at Duke University Hospital and Atrium Health Wake Forest Baptist High Point Medical Center.